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The overall structure shows that the index will likely witness both side movements in the coming days. Nifty may find support around 17850 followed by 17800 levels while on the upside 18220 may act as an immediate hurdle, said Om Mehra of Choice Broking.
During the day, the index failed to reclaim the 50-EMA on the daily timeframe. The overall trend, experts say, remains sell on rise despite today’s bounce.
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TECH VIEW: Nifty’s long green candle not enough fodder for bulls. What traders should do on Tuesday
Santa Rally today helped Nifty reclaimed the 18,000 mark as the index formed a long bull candle with a minor upper shadow on the daily chart. Analysts say the pattern indicates counter attack of bulls after sharp weakness.The overall structure shows that the index will likely witness both side movements in the coming days. Nifty may find support around 17850 followed by 17800 levels while on the upside 18220 may act as an immediate hurdle, said Om Mehra of Choice Broking.During the day, the index failed to reclaim the 50-EMA on the daily timeframe. The overall trend, experts say, remains sell on rise despite today’s bounce.
Power Mech gets orders over Rs 1,034 cr from Adani Group, others
A service order for execution of retrofitting of flue gas desulphurisation (FGD) system is from the Adani Group for its thermal power plants located at Mahan (Madhya Pradesh), Raigarh and Raipur in Chhattisgarh, Power Mech said.
The order from the Adani Group is of Rs 608 crore, it said.
Another order of Rs 306.60 crore is for setting up of a wagon repair workshop at Kazipet, Telangana. This project has been awarded to Power Mech-Taikisha, its joint venture company with Taikisha Engineering India Private Limited.
WeWork India raises Rs 550 cr from BPEA Credit-managed fund for future growth, acquisition
In 2017, WeWork Global had partnered with Bengaluru-based real estate firm Embassy Group to enter the Indian market.
At present, WeWork India has a portfolio of around 70,000 desks spread over 6 million square feet area in 41 centres across six cities — Bengaluru, Mumbai, Gurugram, Noida, Hyderabad, and Pune.
The amount will be used for future growth and potential consolidation opportunities, WeWork India said.
Inox Green to acquire majority stake in wind service provider
Inox Green Energy Services on Monday said it will acquire a majority stake in an independent wind service provider that operates majorly in South India with a 230+MW fleet. However, the company did not disclose the value of the transaction and the name of the target company.The transaction is subject to certain regulatory and other customary closing conditions and is expected to conclude by the end of January 2023, a company statement said.”Inox Green…has signed a term sheet for acquisition of majority stake in a renowned independent O&M (operations and maintenance) wind service provider with a 230+MW fleet that operates majorly in South India,” it said.
“After a four-day selloff, the domestic market was refuelled by bottom fishing and optimistic sentiment from global counterparts. PSBs led the rally, while mid- and small-cap stocks outpaced the benchmark. Contrary to the trend, global concerns over the recession and COVID spread continue to remain high, which will sustain volatility in the market.”
– Vinod Nair, Head of Research at Geojit Financial
Gold rises Rs 121; silver advances Rs 100
Silver also rose by Rs 100 to Rs 69,050 per kg.
The Comex spot markets are closed on Monday due to the Christmas holiday.
“Gold price traded steady in the domestic market due to lack of cues from the global market due to holiday season,” said Dilip Parmar, Research Analyst at HDFC Securities.
Indian markets witnessed a sharp short-covering rally in the absence of any global cues. Last week, we underperformed due to COVID-related news, while other global markets didn’t react too much to the same. Our market had become oversold as the Nifty daily RSI was near 30 and the put/call ratio was 0.72; therefore, we are seeing a short-covering bounce. The purchase of 3400 cr by DIIs without any block deal was another encouraging sign for bulls.The majority of the froth was removed from the system in Friday’s trading as many stocks fell precipitously, resulting in bargain buying at lower levels.Technically, the Nifty has reclaimed its 100-day moving average (DMA), but 18088, 18133, and 18200 are multiple hurdles on an immediate basis. Nifty has to cross its 50-DMA of 18200 to gain any meaningful strength, while 17850 will act as an immediate hurdle. As per option data, there is a tussle between bulls and bears around the 18000 mark; therefore, it will be important to see tomorrow’s price action, and if Nifty manages to trade above 18000, then there is a good chance of a move towards the 18200 level.
– Parth Nyati, Founder at Tradingo
Indian equites witnessed a strong recovery after the sharp sell-off last week. Nifty opened positive and gained strength throughout the session to close with gains of 208 points (+1.2%) at 18015 levels. Action was seen in Broader market post its 3 consecutive weeks of decline. Both Nifty Midcap 100 and Smallcap 100 outperformed Nifty with gains of 2.7%/3.8% respectively. Except Pharma, all sectors ended in green. After sharp fall of 3% in Nifty over the last three trading sessions, value based buying emerged at lower levels. In the absence of any major global events due to year-end holidays, we expect market to remain sideways to positive based on news flows. We expect focus on Banks, Auto, capital goods and defense sectors to do well in the near term.
– Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
Rupee gains 16 paise to close at 82.66 (provisional) against US dollar
The BANK NIFTY index witnessed a sharp up move after a massive sell-off in the previous week. The index downside support now stands at 42,000 where aggressive put writing has been observed. The next hurdle on the upside is seen at 43,000 where the highest open interest is built up on the call side. The index remains in buy mode as long as the mentioned support is held on a closing basis.
– Kunal Shah, Senior Technical Analyst at LKP Securities
Closing Bell: Sensex snaps 4-day losing streak, ends 724 pts higher; Nifty above 18,000; Adani Transmission, Zomato rally over 8% each
Central Bank Of India to raise capital through issuance of tier II bonds upto Rs 1500 cr
Price as on 26 Dec, 2022 03:12 PM, Click on company names for their live prices.
Gold futures gain Rs 46 to Rs 54,620
Gold price on Monday increased by Rs 46 to Rs 54,620 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 46 or 0.08 per cent at Rs 54,620 per 10 grams in a business turnover of 13,785 lots.Fresh positions built up by participants led to the rise in gold prices, analysts said.
SENSEX SURGES 800 POINTS
2022 has definitely given a boost in market participants confidence w.r.t gold and silver. Along with Russia-Ukraine tensions, inflationary concern and Covid scare in China, market participants will also carry the baggage regarding slower global growth into the next year. Going ahead, market participants will keenly focus on the monetary policy stance from major central bankers. A move in Dollar Index and Yields will also be watched by the market. Gold/silver ratio has also fallen from the recent peak of ~97 to ~75, supporting the move in silver. And also apart from safe haven bets, advancement in green technology and increase in industrial demand could continue to support silver prices.
– Navneet Damani, Sr. VP, Currency & Commodity, MOFSL
GPT Infraprojects says unit gets order worth Rs 123 crore
Price as on 26 Dec, 2022 01:58 PM, Click on company names for their live prices.
Top 5 gainers at this hour
Price as on 26 Dec, 2022 01:47 PM, Click on company names for their live prices.
JUST IN
#JustIn | Sources say Finance Minister Sitharaman admitted to AIIMS (From Agencies) #AIIMS #NirmalaSitharaman… https://t.co/pSMnfVH99E
— ET NOW (@ETNOWlive) 1672040369000
Buzzing Stocks
Price as on 26 Dec, 2022 01:13 PM, Click on company names for their live prices.
Shanghai stocks finish higher
The Shanghai Composite Index was up 0.65 percent, or 19.70 points, at 3,065.56, while the Shenzhen Composite Index on China’s second exchange rose 1.33 percent, or 25.92 points, to 1,975.93.
Hong Kong’s financial markets were closed for a public holiday.
State-owned CIL on Monday said Mukesh Choudhary has taken over as its Director, Marketing. He assumed charge on December 23, Coal India Ltd (CIL) said in a statement. Prior to this, he was Deputy Director General, Department of Defence Production, Ministry of Defence.
Price as on 26 Dec, 2022 12:45 PM, Click on company names for their live prices.
Computer Age Management Services says co, IIT Madras launch fintech innovation lab
Price as on 26 Dec, 2022 12:39 PM, Click on company names for their live prices.
Japanese shares end higher on Wall Street gains, financials weigh
The Nikkei share average rose 0.65% to close at 26,405.87, while the broader Topix edged up 0.24% at 1,902.52.
“Japanese shares rose because U.S. equities gained at the end of last week, but the trading is very quiet with most participants in the U.S. and Europe away for holidays,” said Shuji Hosoi, senior strategist at Daiwa Securities.
Power Mech bags orders worth Rs 1,034 crore; stock jumps 5%
Price as on 26 Dec, 2022 12:30 PM, Click on company names for their live prices.
NIFTY ABOVE 18,000 LEVEL
Market LIVE Updates: Sensex jumps 600 pts
These 5 stocks lead gainers in the realty space
Price as on 26 Dec, 2022 11:26 AM, Click on company names for their live prices.
Turkish lira weakens to record low of 18.75 against dollar.
Rajnandini Metal got multiple orders worth Rs 20.45 crore
Price as on 26 Dec, 2022 11:00 AM, Click on company names for their live prices.
BOJ Kuroda shuns near-term chance of exit from easy policy
Source: Reuters
Aurionpro Fintech announces order worth $18 million in the US.
Price as on 26 Dec, 2022 10:37 AM, Click on company names for their live prices.
BUZZING STOCK: ZOMATO
#StocksInNews | Zomato -Snaps 3-day losing streak; At one point in time, stock was up 11% -Biggest single day gain… https://t.co/zmqfwPSPPq
— ET NOW (@ETNOWlive) 1672028604000
Bitter pill! Pharma stocks see profit-taking after sharp rally last week
Price as on 26 Dec, 2022 10:22 AM, Click on company names for their live prices.
Inox Green signs term sheet for acquisition of majority stake in an Independent O&M Wind Service. The Target Company has a fleet of 230+MW majorly operating in South India. With this acquisition, Inox Green enters multi-brand OEM Wind Turbine O&M business.
Price as on 26 Dec, 2022 10:17 AM, Click on company names for their live prices.
Market LIVE Updates: Compuage Infocom to be value added distributor of Bosch for supply of Bosch CCTV surveillance
Price as on 26 Dec, 2022 10:07 AM, Click on company names for their live prices.
Suven Pharmaceuticals announces open offer for acquisition of up to 6,61,86,889 fully paid-up equity shares of face value of Rs 1/- each representing 26.00% of the voting share capital from the Public shareholders of the company.
Price as on 26 Dec, 2022 09:50 AM, Click on company names for their live prices.
The Water & Effluent Treatment Business of L&T Construction has secured order worth Rs 1,000-Rs 2,500 crore from the Tumakuru Industrial Township (TITL).
Price as on 26 Dec, 2022 09:48 AM, Click on company names for their live prices.
SENSEX TODAY LIVE: Index surges 400 points in morning trade
Market LIVE Updates: NDTV shares rise after founders sell stake to Adani
Shares of Indian news broadcaster New Delhi Television Ltd rose over 4% on Monday after founders Prannoy Roy and Radhika Roy said they would transfer their 27.26% stake in the company to the Adani Group. (Source: Reuters)
The market sell off on Friday was the consequence of the cumulative impact of Covid fears, valuation concerns and margin calls in many momentum stocks. It is important to note that the 320 point cut in Nifty was caused on a day when DIIs bought heavily for Rs 3398 crores and FIIs sold only for Rs 706 crores. This means the selling was triggered by HNIs and retail which, in turn, triggered margin calls in momentum stocks that led to steep cuts in these segments. Heavy FII selling in call options in the derivatives segment indicate that recovery will be slow and tough. Long term investors can nibble at high quality stocks in capital goods, telecom, banking and pharma.
– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Top gainers and losers in morning trade
Price as on 26 Dec, 2022 09:27 AM, Click on company names for their live prices.
Sector Watch: Baring Nifty Financial Services all sectors open in green
Private equity major Advent International will buy a 50.1% stake in Suven Pharmaceuticals Ltd from its promoter Jasti family and consider merging it with a peer in its portfolio, the Indian drugmaker said on Monday. Suven said Advent would make an additional open offer for up to 26% of the voting share capital held by public shareholders at a price of 495 rupees per share. Shares rose as much as 4.8% to 520 rupees in early trading.
Price as on 26 Dec, 2022 09:24 AM, Click on company names for their live prices.
Rupee opens up 0.11% at 82.7700 per U.S. Dollar; previous close 82.8575
Alembic Pharmaceuticals Receives USFDA Final Approval For Fulvestrant Injection
Price as on 26 Dec, 2022 09:22 AM, Click on company names for their live prices.
Rise in VIX may allow for a pull back, without quite confirming an upside reversal. The 18,000 region is a critical level to such an event, which could again force a turn lower. If such declines do not force beyond 17670 oreven 18800, expect a turn higher again which could aimfor 18,100 or even 18,250.
– Anand James – Chief Market Strategist at Geojit Financial Services
Opening Bell: Sensex, Nifty flat; Suven Pharma jumps 5%, M&M sheds 2%
Pre-open session: Sensex down 100 points; Nifty below 17,840
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 22 points, or 0.12 per cent, higher at 17,886, signaling that Dalal Street was headed for a positive start on Monday.
Tech View: Nifty forms a long bearish candle this week.
While making lower lows for the last seven trading sessions, Nifty today slipped below the 200-DEMA (double exponential moving average) and formed a bearish candle on the daily scale.
Tokyo shares open higher
Tokyo shares opened higher Monday, lifted by gains on Wall Street last week, though the spread of Covid in China weighed on investor sentiment. The benchmark Nikkei 225 index added 0.49 percent, or 128.75 points, to 26,364.00 in early trade, while the broader Topix index firmed 0.33 percent, or 6.35 points, to 1,904.29.
Wall Street ends up as investors eye data for rate prospects
The S&P 500 closed higher on Friday, in a light trading day ahead of a long weekend, as investors assessed inflation data against rate hike and recession fears while energy shares jumped on higher oil prices.
Rupee slips 3 paise to 82.82 against US dollar
The rupee dipped 3 paise to close at 82.82 against the US dollar on Friday due to firm crude oil prices and steep losses in domestic stocks amid growing concerns about interest rate hikes.
Sensex, Nifty on Friday
Sensex ended 981 points lower at 59,845.29, while Nifty50 ended at 17,806.80 on Friday.
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